DGAP-Adhoc: Tuff Group AG: Possible changes in the shareholder base and Group structure

2021. december 02., csütörtök, 13:30





DGAP-Ad-hoc: Tuff Group AG / Key word(s): Strategic Company Decision/Letter of Intent


Tuff Group AG: Possible changes in the shareholder base and Group structure


02-Dec-2021 / 13:30 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Possible changes in the shareholder base and Group structure


Frankfurt am Main, 2 December 2021: Tuff Group AG, Frankfurt am Main, announces that it has become aware that the core shareholders of the Company, namely Mr. Ganesh Paulraj and Mr. Natarajan Paulraj, who together hold approximately 95% of the shares of the Company, are currently in concrete discussions with an investor with regards to the off-market sale of the shares held by them. Negotiations with the investor are almost complete and it is believed that it is likely that a signing of the sale and purchase agreements will take place shortly.



In addition, the Company announces that, also in light of the likely implementation of the disposal of its shareholding and the consequent change in its shareholder base, it is seriously considering disposing of the shares in its sole subsidiary, Tuff Offshore Engineering Services Pte. Ltd., Singapore, to the outgoing major shareholder, Mr. Ganesh Paulraj, subject to the prior approval of the Company"s Annual General Meeting on such sale and purchase agreement. There has also been a corresponding request for additions to the agenda by the shareholder Mr. Ganesh Paulraj, which has been received in due form and time, and which the Company will therefore publish in accordance with the legal requirements.


Contact:

Natarajan Paulraj

CEO

Marienplatz 2, 80331 Munich

email: ir@tuffgroup.com








02-Dec-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

























Language: English
Company: Tuff Group AG

Marienplatz 2

80331 Munich

Germany
Phone: +49 89 13928890
E-mail: investorrelations@tuffgroup.com
Internet: www.tuffgroup.com
ISIN: DE000A161N22
WKN: A161N2
Listed: Regulated Market in Frankfurt (General Standard)
EQS News ID: 1253737





 
End of Announcement DGAP News Service




1253737  02-Dec-2021 CET/CEST







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